According to the Insurance Information Institute, insured losses due to natural disasters in the U.S. totaled $16.1 billion in 2015 and $15.3 billion in 2014. Some of the most expensive disasters to hit the U.S. included Hurricane Katrina in 2005, the World Trade Center terrorist attacks in 2001, Hurricane Andrew in 1992, Hurricane Sandy in 2012 and the Northridge California Earthquake in 1994. How can businesses prepare to weather these types of events and the cost associated with them? The chances of a full and expedient recovery are greatly improved when a comprehensive disaster recovery plan is in place. This discussion explores how and why those organizations that anticipate what could happen, and plan for it, stand a much better chance of surviving. Our experts review the basics, disaster recovery planning, coupled with interesting facts and statistics about the impact of natural and manmade disasters.   Key Takeaways: [2:20] Is it true that natural disasters are happening more frequently or are we just paying more attention to the property damage costs associated with these disasters? [4:33] According to the Insurance Institute for Business and Home Safety, many businesses aren’t prepared to respond to a man-made or natural disaster. Does this statement surprise you? [6:15] Are there differences between business continuity plans, continuity of operations plans and disaster recovery plans? [7:42] How can a business test their level of disaster preparedness? [13:47] What are the main steps in the disaster recovery plan development process? [15:24] When developing a disaster recovery plan, why doesn’t a one-size-fits-all approach work for every organization? [18:31] What types of challenges can a planning team run into when developing their disaster recovery strategy? [20:32] If an organization has no disaster preparedness plan in place, why is establishing their team the most important aspect? [26:42] What goals should be met during the first disaster preparedness planning step? [29:52] In the Adjusting Today publication the second step in the planning process is to analyze capabilities and hazards, how should the planning team conduct this analysis? [33:23] Did 9/11 spawn the need to include terrorist attacks in disaster planning? [34:07]  Step 3 in the process is establishing the plan. [37:35] Post-disaster considerations that an organization’s disaster preparedness team should discuss. [45:02] What role should technology play in an organization’s disaster plan development and recovery efforts? [46:15] Once a plan has been completed and approved how should an organization implement it? [52:34] What is on the horizon for disaster recovery planning? [55:56] Examples of organization’s putting together great plans to effectively see them through a disaster.   Panel of Insurance Experts: Daniel Craig, Senior Vice President — Adjusters International John Marini, President and CEO — Adjusters International Michael Roberts, Director, Preparedness Division — Tidal Basin Government Consulting C. Todd Thomas, Executive Director of Consulting Services and member of the Society of Risk Management Consultants— Adjusters International   Moderator: Marjorie Musick, Social Media Specialist — Globe Midwest/Adjusters International, Jansen/Adjusters International, and Adjusters International/Basloe, Levin & Cuccaro   Mentioned in This Episode: Adjusters International Adjusting Today U.S. Geological Survey Website National Earthquake Information Center  Federal Emergency Management Agency National Hurricane Center National Climatic Data Center National Weather Service National Oceanic and Atmospheric Administration National Interagency Fire Center National Center for Public Policy Research National Continuity Policy Continuity Guidance Circular 1 & 2 Climate Predic